Bank of Lithuania

Bank of Lithuania securities lending under the asset purchase programmes

Seeking to support bond and repo market liquidity, the European Central Bank (ECB), together with other Eurosystem national central banks, lends securities purchased under the Public sector purchase programme (PSPP) and Pandemic emergency purchase programme (PEPP). The Bank of Lithuania's PSPP and PEPP holdings are available for lending via securities lending agents or under securities lending and borrowing programmes offered by international central securities depository Euroclear Bank SA/NV (Euroclear) : Securities Lending and Borrowing (SLB) programme (the so-called fails mitigation programme) and GC Access programme via Securities Lending and Borrowing Extended (SLBe) service.

Securities lending via agents

Lending of securities holdings takes place on a cash neutral basis, by entering into repo and reverse repo transactions. The Bank of Lithuania lends selected securities via its lending agent – Deutsche Bank AG – under the terms and conditions determined by the Bank of Lithuania.

Main terms and conditions of transactions:

  • Pricing – no less than 5 basis point spread between the interest rates on repo and reverse repo transactions.
  • Term – up to 97 calendar days.
  • Valuation haircut – 4 per cent, applicable to securities on repo or reverse repo transactions.
  • Eligible collateral – PSPP and PEPP -eligible securities with a minimal rating of A– and a maximum remaining maturity of 15 years.
  • Borrowing limits – up to 2.5 per cent of the amount outstanding of a single issue for an individual counterparty, with a maximum of EUR 200 million for any such issue and a maximum nominal ticket size of EUR 50 million.

To become an eligible counterparty, please contact Deutsche Bank AG ([email protected]).

Euroclear securities lending and borrowing programmes

The Bank of Lithuania, as a lender of securities purchased under the PSPP and PEPP, participates in Euroclear securities lending and borrowing programmes SLB and GC Access via SLBe. The terms and conditions of the programmes are the standard conditions defined by Euroclear. For further information, please contact Euroclear directly.

Securities available for lending via agents or Euroclear securities lending and borrowing programmes:

ISIN Issuer Coupon Maturity
XS1020300288 Government of Lithuania 3.375 22/01/2024
XS2168038417  Government of Lithuania 0.250 06/05/2025
XS1310032187 Government of Lithuania 1.250 22/10/2025
XS1130139667 Government of Lithuania 2.125 29/10/2026
XS1619567677 Government of Lithuania 0.950 26/05/2027
XS2547270756 Government of Lithuania 4.125 25/04/2028
XS2013677864 Government of Lithuania 0.500 19/06/2029
XS2168038847 Government of Lithuania 0.750 06/05/2030
XS2487342649 Government of Lithuania 2.125 01/06/2032
XS2604821228 Government of Lithuania 3.875 14/06/2033
XS1310032260 Government of Lithuania 2.125 22/10/2035
XS1619568139 Government of Lithuania 2.100 26/05/2047
XS2013678086 Government of Lithuania 1.625 19/06/2049
XS2210006339 Government of Lithuania 0.500 28/07/2050
XS2364754411 Government of Lithuania 0.750 15/07/2051
EU000A1U9894 European Stability Mechanism 1.000 23/09/2025
EU000A1U9944 European Stability Mechanism 0.500 02/03/2026
EU000A1Z99B9 European Stability Mechanism 0.750 15/03/2027
EU000A1Z99F0 European Stability Mechanism 0.750 05/09/2028
EU000A1U9969 European Stability Mechanism 1.125 03/05/2032
EU000A1Z99D5 European Stability Mechanism 1.200 23/05/2033
EU000A1U9928 European Stability Mechanism 1.625 17/11/2036
EU000A1U9977 European Stability Mechanism 0.875 18/07/2042
EU000A1U9902 European Stability Mechanism 1.750 20/10/2045
EU000A1Z99A1 European Stability Mechanism 1.800 02/11/2046
Last update: 30-04-2024